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sarama resources ltd (SWA) Details

Sarama Resources Limited, an exploration stage company, is engaged in the exploration and development of gold deposits in west Africa. As of March 31, 2014, the company had exploration landholdings consisting of in 2,867 square kilometers in Burkina Faso, 883 square kilometers in Liberia, and 146 square kilometers in Mali. Its principal property is the South Houndé Project that covers an area of approximately 1,000 square kilometers and is located in south-west Burkina Faso. The company was founded in 2010 and is based in Subiaco, Australia.

sarama resources ltd (SWA) Key Developments

Sarama Resources Ltd. announced that Savary Gold Corp. provided an update on June 16, 2015, of the current exploration drilling program at the JV in south-western Burkina Faso. To date, Savary has completed approximately 10,000 metres of a planned 15,000 metre reverse circulation drill program which has resulted in the discovery of several new gold zones and a number of significant gold mineralisation intercepts. Savary have noted that the current drill program has extended areas of known mineralization, discovered new mineralized zones and also returned the best drill intersection to date. Savary's current drill program is focused on identifying areas of high gold grades and delineating a material gold resource. Due to the encouraging results, Savary has designed a further drill program to immediately follow up these results.

Sarama Resources Ltd. reported that regional drilling at the MC and Obi Prospects has returned significant gold intersections in oxide material, leading to the interpretation of mineralised zones along newly-defined strike lengths of 800m and 1,900m respectively. The zones are situated south and along strike from the mineral resource at the MC Prospect and indicate the potential for a continuous eastern horizon extending over 5km. A USD 3.5 million, multi-faceted exploration program is ongoing (50% complete) at the South Houndé Project which is subject to an earn-in agreement between Sarama and Acacia Mining plc. The Project's mineral resource currently stands at 1.5 Moz of contained gold, a majority of which is delineated at the MM and MC Prospects and hosted within a regional-scale structural-magmatic zone informally known as the Tankoro Structural Corridor. The area to the south of the defined mineral resources at the MC Prospect has only been lightly explored, with activities limited to regional scout drilling and ground-based geophysical and geochemical programs.

Sarama Resources Limited Announces Production Updates at the Phantom West Prospect

Apr 28 15

Sarama Resources Ltd. reported that regional drilling at the Phantom West Prospect has delineated additional oxide mineralisation over a strike length of 1.3km, bringing the total semi-continuous strike length of drill-defined mineralisation at the South Houndé Project (the “Project”) to 9.8km. The results represent the initial portion of a $3.5M, multi-faceted exploration program (approximately 50% complete) at the South Houndé Project (the “Project”) which is subject to an earn-in agreement between Sarama and Acacia Mining plc. Delineation of additional oxide mineralisation over a 1.3km strike length at the Phantom West Prospect, bringing the total strike length of drill defined mineralisation to a semi-continuous distance of 9.8km. Deeper drilling at the Phantom West Prospect indicates potential for mineralisation to continue at depth, possibly with the presence of higher-grade shoots. Scout drilling at the Phantom Prospect indicates potential for the main lodes at the MM Prospect to continue north. The Project’s mineral resource currently stands at 1.5 Moz of contained gold, a majority of which is delineated within the MM and MC Prospects. The Phantom West and Phantom Prospects are situated directly north of the MM Prospect and lie within a regional-scale structural-magmatic zone known as the Tankoro Structural Corridor. The Phantom West and Phantom Prospects have only been lightly explored and remain attractive exploration targets. The reverse-circulation (“RC”) and air-core (“AC”) drill programs commenced in December 2014 and were designed to test shallow targets generated by soil geochemistry and ground-based geophysical surveys and also targeted structural extensions to mineralised zones previously identified by shallow drilling. The Phantom West Prospect lies along a mineralised horizon situated approximately 100m into the hanging wall of the main mineralised lodes of the MM Prospect. The drill program targeted anomalous zones identified ground-based geophysical surveys which followed encouraging soil geochemistry survey to the south A total of 1,100m RC and 3,300m AC drilling along a coincident resistivity-chargeability anomaly encountered significantgold mineralisation over a strike distance of approximately 1.3km. Highlighted AC drill intersections include 9.0m @ 4.18g/t Au from 36.0m in AC1834, 9.0m @ 2.52g/t Au from 39.0m in AC1828, 12m @ 1.87g/t Au from 37.0m in AC1832, 10.0m @ 2.09g/t Au from 6.0m in AC1990, 12.0m @ 1.44g/t Au from 11.0m in AC1837 and 12.0m @ 1.39g/t Au from 42.0m in AC 1840.

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